Cantor’s Naved Khan Comments On Tripadvisor Ahead Of Upcoming Earnings
In a research report issued today, Cantor analyst Naved Khan assigned a Hold rating on Tripadvisor (NASDAQ:TRIP) with a price target of $94, which represents a potential upside of 5% from where the stock is currently trading.
Khan noted, “We expect TRIP’s 3Q results to be in line with our expectations when it reports numbers on Tuesday, 11/4 (after market close). We believe that a generally positive read-across from EXPE on the health of online travel along with ongoing efforts by TRIP to improve monetization (via mobile instant-book, meta, restaurant bookings) bode well for the latter’s 3Q results. Mgt’s updated growth outlook for FY:14 along with commentary on traction of new initiatives (instantbook, restaurant bookings, etc.) should provide greater clarity into business trends and into the direction of the stock over the near- and medium-term, in our view.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Naved Khan has a total average return of 23.0% and a 80.6% success rate. Khan has a 21.1% average return when recommending TRIP, and is ranked #167 out of 3355 analysts.